Six Pillars For Business Success

by Richard Avdoian

Over the years, I have worked with business owners who have struggled to effectively move their companies forward and to the next level. We begin by completing an internal audit addressing the six pillars that are the keys to establishing a solid business foundation. Focusing on these areas collectively will provide a manageable foundation that will help a business owner make strides in increasing productivity and profitability.

Passion. Typically every business owner, entrepreneur and startup says passion was instrumental in starting their business. As the owner, you are responsible for defining and communicating your passion while being totally engaged to accomplish your goals. Otherwise you cannot expect your employees to carry the torch. Maintaining a creative, energized workplace will generate excitement and result in the delivery of exceptional customer service.

People (workforce). Take the time to recruit the best candidates to fill the right seats rather than hiring when in a crisis. Having clearly defined job descriptions, realistic expectations, appropriate resources and effective leadership will inspire others to thrive and work as an effective, cohesive team. Employees want to be winners, and they achieve goals when they are effectively led and feel valued.

Preparation. Investing in employees’ personal and professional development will convey that you are as invested in your employees as you are in productivity and profitability. As a leader, it is your task to create a work environment that inspires, guides and fuels the employee’s motivation and professional development. This will ensure continuous excitement, empowerment and commitment to being actively engaged in all facets of customer service.

Planning. Business owners who allocate time weekly to work on the business rather than in it are more likely to avoid exhausting their finances and resources. Having a current and five-year business plan, a clear vision and mission statement, defined processes, and best-practice meetings will help employees stay on course and measure progress. Without a consistent, well-written, effective planning process, it is unreasonable to expect your business to achieve its full potential.

Performance. If business owners fail to establish and clearly articulate specific performance goals for which employees are accountable, they are simply hoping goals will be accomplished. It is your responsibility to routinely check, keep records, educate and inspire employees, and take corrective action as necessary to improve overall performance.

Perseverance. Business owners need to anticipate and prepare for setbacks, decreased production and strained cash flow; bite the bullet; and forge on. You can also count on employees making mistakes, losing focus and maybe losing sight of the established goals. As the owner, you need to lead, projecting optimism, rallying the employees during turbulent times and pushing past them.

The growth of any successful business does not happen by accident. Keeping your eyes open and monitoring these six pillars will help keep everyone energized and will take your business in the direction you desire

Richard Avdoian is founder/CEO of the Midwest Business Institute Inc., a business coaching, consulting and training firm. For more information about coaching and training, contact Richard at 618-972-8588 or Richard@RichardAvdoian.com.